The economic policy of the Japanese government, known as „Abenomics“

As is well known, over the past 20 years or so, the Japanese economy has been in a process of prolonged deflation. Since 1994, the annual consumer price index has been higher than 1% only in 1997 and 2008. This prolonged deflation has led to a stagnation in the activities of firms, as well as a restraint from capital and new investment. In addition, wages did not increase for a prolonged period. The rate of economic growth was stagnant.